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What can I do to get more (or better) quotes for my loan request ZR-WQXZTPC

Hello and thanks for reading.

My name is Dale and I have been looking at homes for some time now.

Getting the loan may be the hard part as is for a lot of people I read about. Here is the details on my situation.

1. We are looking for a house under 40k.
2. 6k for 2010 income
3. 17k for 2011 income
4. Zero flaws in credit history 735 on lowest. (however limited account average age 1.7 years)
5. Self employed
6. No expenses whatsoever
7. 11k seasoned and growing for down-payment and closing costs.
8. Want to get a fixer upper that might not make it for FHA approval.
9. Already 11k earned YTD making it a similar year to 2011

What direction should I aim? I hope I gave enough information and thanks so much for your consideration.

Regards,
Dale
  • August 16 2012 - Cleveland
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Answers (2)

Best Answer

Hi Dale

If you have not had luck with Zillow's lenders or other tradition on line lending sites like quickenloans.com, I would suggest:

1) Your local bank were you have your checking account.
2) A local credit union. You can now join them without having a work association.
3) One other long shot may also be to try to get a person loan rather than a mortgage. See www.lendingclub.com. Interest rates are higher but with A+ credit it may be easier for a self employed person.

- Rita
  • August 16 2012
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Profile picture for wetdawgs
I hear that Zillow lenders tend not to quote loans of less than about $100,000.  You may be better off going to your primary banking institution in your home town.
  • August 16 2012
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